All Forum Posts by: Neil Da Silva

@George T. I'm in a similar situation. I'd like to refinance a central florida home which I own free and clear. After speaking to mortgage brokers the common consensus was to do a cash out refinance. I'm still doing my due diligence to make sure this is the correct option for me as well!

@Vincent Migliorino good on you man!

I also invest in florida, I currently have 2 properties in Kissimmee. Give me a shout!

@Aditya Soma

AMAZING! congrats dude!

I also am in Canada, Toronto actually.

Keep up the good work!

@Stephanie P. 

thanks for your info!

I'm a Canadian Citizen and I primarily reside in Toronto, Canada. I've been a Permanent Resident of the US for about 12 years and I plan on getting my Citizenship very soon!

With respect to the refinance, I want to refinance my rental property which has no mortgage on it. my question is should I do a cash out refinance as I here that's easier to get than a heloc and the rate is lower, fixed and longer term. What is the common consensus? 

Hey guys,

I wanna start out by saying I found BP two days ago and I have not done anything outside of real estate since then! Podcast after Podcast I'm absolutely obsessed with this community you guys are awesome!

I would normally be self sufficient and do some research on the forums before asking questions as I'm sure my questions have already been answered BUT, when I was listening to a podcast @Joshua Dorkin and @Brandon Turner said to repost all questions to promote forum activity so here I am!

I got into real estate like many of you after reading Rich Dad Poor Dad, I attended many seminars and I currently own 2 investments properties. I'm currently 26 years old and I live between Toronto, Canada and Kissimmee, Florida. My properties are single family homes in Kissimmee. Both rented.

One of my properties is worth about $200,000 in today's market and has no mortgages and encumbrances. It's rented for $1300 a month, monthly expenses are $70.00 for insurance and $100.00 for taxes. which leaves $1100 positive cash flow PLUS 100% equity.

Questions:

1. I want to refinance my home so I can get some cash to buy more properties, either a flip or multi family home. I currently have a mortgage broker working on a deal to refinance however I want to know from you guys what you think the best method to do so is? I.e. Cash out refi, heloc, etc.

2. I also wanted to point out that this property is currently in my personal name and not my corporation, however I do want to put the property under my Corporation name. Is a corporation a suitable business entity? I noticed many people have LLC's.

3. How do I change the ownership of my property to my corporation? I'm aware I have to re deed however I'm still not 100% sure how.

4. Should I change ownership to my corporation an then obtain financing?

Thanks so much for your time and all of your help! I love BP and I love Real Estate!

-Neil

Dwight! Thanks for the shout!

I'll definitely add you to me network, and keep you in mind, good luck to you!

Hey guys, I'm new to BiggerPockets and I LOVE IT!

I currently own 2 properties in Kissimmee, Florida and I'd like expand my portfolio. I want to 

buy and hold multi family homes for cashflow and building wealth as well as rehab and sell single family homes for capital gains.

Any information you guys can provide is great, I'm not a complete beginner as its not my first rodeo however I am by no means a PRO like many of you out there.

Thanks guys, again BIGGERPOCKETS is truly AMAZING!